Masa to Launch Soulbound Token Protocol & Developer Toolkit on Base Blockchain
Masa is building and launching on Coinbase’s Base Blockchain
Masa, the first and fastest-growing Ethereum Virtual Machine (EVM)-compatible Soulbound Token (SBT) protocol, is thrilled to announce our plans to launch Base SBT Developer Toolkit for developers and Base Camp soulbound identity for users on Coinbase’s new Base Layer-2 blockchain.
Upon the launch of Base Testnet, the Base team published a Request for Builders, to inspire innovative infrastructure and dapps on the new blockchain. Masa is responding to that call by bringing on-chain trust and reputation to Base, through our pioneering Soulbound Token protocol.
At Masa, we are fully aligned with the Base team’s goal to bring the next billion users on-chain, and we share in the vision that on-chain is the new on-line. In order to bring this ambitious vision to reality, an on-chain trust layer is critical. Soulbound Tokens is our answer to building trust, through a composable and interoperable identity and data layer on-chain.
What is a Soulbound Token (SBT)?
First evangelized by Vitalik in May 2022, Soulbond Tokens are non-transferable NFTs that represent the on-chain and off-chain credentials, activities, and affiliations of users in a web3 economy. SBTs can encode composable and scalable trust networks to establish provenance and reputation on-chain.
Compared to Decentralized Identifiers and Verified Credentials, Soulbound Tokens represent a composable, interoperable, and lower-barrier to entry technical approach to web3 identity. SBTs not only represent on-chain and off-chain credentials, SBTs empower a user by building a user’s on-chain identity and accomplishments cumulatively, based on on-chain and off-chain actions and affiliations over time. For users, SBTs are simply tokens, or non-transferable NFTs, directly accessible in a user’s web3 wallet or web2 interface. For developers, Masa has made identity and the process of deploying an SBT smart contract for a wide range of use cases as simple as writing a few lines of code.
What is The Masa Protocol?
Masa is the world’s first interoperable Soulbound Token (SBT) Identity Protocol. Masa uses SBTs to represent a user’s attributes, credentials, and reputation in web3. The Masa Protocol provides a set of primitives for web3 public or private identity management, enabling an individual to establish provenance and reputation in web3 by linking and verifying any identity or reputational data — on- or off-chain.
In addition to this, the Masa Protocol provides developers with a decentralized middleware (data layer 2) layer consisting of a set of decentralized oracle nodes that enable cross-chain data interoperability, private transactions, private smart contracts, smart account abstraction (EIP-4337), transaction bundling (EIP-4337), transaction fee abstraction through paymasters (EIP-4337), and data governance.
By pioneering real-world utility and functional use cases of soulbound technology, Masa has accumulated over 800,000 SBT mints and 300,000 users in the past 8 months. We have made minting an SBT as easy as minting an NFT for users, and as easy as deploying an ERC-20 smart contract for developers.
What is the Base SBT Developer Toolkit?
To fulfill the mission of enabling mass adoption of web3 for users all over the world, it’s critical to simplify and standardize the creation of decentralized identity. With the release of the Base SBT Developer Toolkit thousands of developers on Base can now extend easy-to-integrate identity-based use cases using Soulbound Tokens.
Masa will launch our robust Base SBT Developer Toolkit for developers in the coming weeks. The Toolkit will include Base SBT quickstart guides for different use cases, Masa CLI, SDK, and React developer tools, as well as examples of how to interact with the smart contracts on Base Testnet.
With the Base SBT Developer Toolkit Masa will support the seamless deployment and interaction with SBTs on Base.Bringing a standardized SBT on-chain trust layer from Day 1 of Base Blockchain’s mainnet launch.
What are the main use cases of Masa SBTs on Base?
Masa has been rapidly synthesizing user and developer feedback through 8 months of building SBTs across Ethereum, Polygon, BSC, and Celo blockchains — minting 800,000 Masa SBTs at scale.
Based on user and developer feedback, we have productized SBT bundles powering the following use cases:
Domain Names
- A soulbound domain name is a human-readable address that resolves to a user’s wallet. It is a combination of letters, numbers, and/or emojis.
- You can create a custom domain name for your community members as a unique way to showcase community affinity. For example, if you run a corgi community, you can issue custom “.corgi” domain names through Masa.
- Masa has minted over 300,000 .soul (e.g. vitalik.soul) and .celo (e.g. tothe🌕.celo) domain names on Ethereum and Celo mainnets respectively. Integrate to resolve .soul and .celo names to access 200,000+ unique Eth and Celo wallets.
Membership Badges
- A non-transferable, soulbound badge representing a user’s community membership as proof-of-status or proof-of-reputation.
- Using soulbound membership badges as unique identifiers, you can give badge holders different access to perks and rewards. You can also market to a specific group of users with membership badge SBTs in their wallets.
For example:
- Loyalty Program: you can mint various tiers and types of “VIP / OG badges” to represent a user’s loyalty status in a tier-based membership program.
- Ambassador Program: you can mint various tiers and types of “contributor / moderator / ambassador badges” to represent a member’s community status.
- Employee Program: you can mint various membership badges to reward employees, such as “Employee #1 / #2 / #3.”
Achievement Badges
- A non-transferable, soulbound badge that represents a user’s achievements and/or quest completions as a proof-of-participation.
- Soulbound achievement badges can be coupled with Membership badges to create a tier-based membership system or loyalty program.
- Using soulbound achievement badges as unique identifiers, you can reward and market to a specific group of users with achievement badge SBTs in their wallets.
For example:
- Reward / Quest Program: a user incentive pool whose qualification is based on completion of specific quests, identified via quest achievement SBT badges.
- Off-chain Achievements: you can mint an Achievement Badge when a user joins your Discord channel.
- On-chain Achievements: you can mint an Achievement Badge when a contributor deploys a smart contract.
Referral Attribution
- An SBT-powered referral program that can establish the referral attributions and affiliations at a wallet level.
- Using SBTs as unique identifiers, you can attribute and track referral credits assigned to specific wallets. You can also market to a specific group of users who have been power referrers in your community.
User Verification: 2FA & Captcha
- An on-chain user verification method that can combat bot at a 99% effectiveness. After being authenticated, this non-transferable, soulbound badge (Masa Green SBT) can be reused as a verification badge.
For example:
- Bot-Proof Allowlist: you can implement Masa Green SBT to verify allowlist registrants on-chain, to build an allowlist of authenticated users.
- Bot-Proof Airdrop Distribution: you can implement Masa Green SBT to verify airdrop claimers, to prevent bots from manipulating an airdrop distribution.
- Bot-Proof Governance Voting: you can implement Masa Green verification SBT to deter bot manipulation of your community or DAO governance voting process.
Credit Underwriting: Web3 Credit Score
- A credit score SBT that represents on-chain credit worthiness, by assessing a wallet’s assets and activity across chains and protocols. Learn more about credit score calculation, powered by our partner Cred Protocol, here.
- You can use a user’s web3 credit score to perform risk-based credit underwriting, reduce loan loss, and broaden your user base by lowering collateralization requirements.
Credit Underwriting: Web2 Credit Score
- A credit score SBT that represents off-chain creditworthiness of borrowers, starting with borrowers in Nigeria and Kenya. The credit score predicts the probability of repayment (risk of a loan being overdue) for the user by assessing mobile money, and mobile loans, amongst other data sources. Learn more about credit score calculation, powered by our partner Pngme, here.
- You can use a user’s emerging markets credit score to assess the creditworthiness of a group of borrowers in Nigeria and Kenya, the majority of whom are not covered by local credit bureaus.
SBT Factory
- The world’s first SBT factory, where developers can enter custom parameters and instantly mint fully-composable SBTs for their use-case.
- Developers will also be able to easily and simply customize template SBTs for the use cases mentioned above.
How can I start using Masa SBTs on the Base blockchain?
We will publish the Base SBT Toolkit in the coming weeks, including:
- Use case guides
- Quick start guide for Masa CLI
- Quick start guide for Masa SDK
- Quick start guide for Masa React
- Examples of how to interact with the smart contracts on Base Testnet.
Simply sign up for our Base SBT Toolkit waitlist here. We will notify you as soon as the Toolkit is ready.
In the meantime, explore the Masa community on Twitter, Discord, and Telegram. We ship new product, features, and community perks weekly 👀
Be a part of the Masa Community 🌽
